Writing

  1. Tidemark: Fees by Reach

    By John K. Ferguson 8 min read

    A follow-up to Tidemark that varies Between order fees by how far an order reaches past the midpoint.

  2. Tidemark

    By John K. Ferguson 27 min read

    A batch auction design that sets each order's role by its price rather than its arrival, so incoming orders can be makers and earn a share of taker fees.

  3. Why The Name

    By John K. Ferguson 4 min read

    The story behind the name, Towards Type Two.